Cullinan Associates Inc. Sells 600 Shares of Royal Bank of Canada (NYSE:RY)

Cullinan Associates Inc. cut its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 15.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,400 shares of the financial services provider’s stock after selling 600 shares during the period. Cullinan Associates Inc.’s holdings in Royal Bank of Canada were worth $410,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of Royal Bank of Canada in the third quarter valued at about $25,000. Dunhill Financial LLC bought a new stake in shares of Royal Bank of Canada in the third quarter valued at about $25,000. Larson Financial Group LLC bought a new stake in shares of Royal Bank of Canada in the third quarter valued at about $26,000. Grove Bank & Trust bought a new stake in shares of Royal Bank of Canada in the third quarter valued at about $28,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Royal Bank of Canada by 110.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 118 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on RY shares. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, BMO Capital Markets dropped their target price on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Stock Performance

RY opened at $118.68 on Wednesday. Royal Bank of Canada has a 52-week low of $93.97 and a 52-week high of $128.05. The firm has a market capitalization of $167.85 billion, a PE ratio of 14.37, a PEG ratio of 1.82 and a beta of 0.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The business’s 50-day simple moving average is $122.27 and its 200 day simple moving average is $120.36.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be given a dividend of $1.0522 per share. This represents a $4.21 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Monday, January 27th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s payout ratio is 49.76%.

Royal Bank of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.